September 30th, 2008 by Larry Bellinger | Posted in Politics | No Comments »
Yesterday afternoon the House of Representatives failed to pass legislation requested by the Bush Administration and Fed Chairman Henry Paulson for $250 billion to bailout the financial industry. Naturally, House Republican leaders quickly blamed House Speaker Nancy Pelosi for losing the votes of their members for saying in a speech before the vote:
“Today we must act for those Americans, for Main Street, and we must act now, with the bipartisan spirit of cooperation which allowed us to fashion this legislation.
This not enough. We are also working to restore our nation’s economic strength by passing a new economic recovery stimulus package, a robust, job-creating bill that will help Americans struggling with high prices, get our economy back on track and renew the American dream.
Today we will act to avert this crisis, but informed by our experience of the past eight years, with the failed economic leadership that has left us less capable of meeting the challenges of the future.
We choose a different path. In the new year, with a new Congress and a new president, we will break free with a failed past and take America in a new direction to a better future.”
The full text of her comments are here.
This was enough to make the House GOP dissenters take their legislative ball and go home? Fugedaboudit! These idealogues were not going to vote for this bill no way, no how. These guys sent Vice President Dick Cheney, (The Prince of Darkness), on his way last week saying, “The problem is that they’ve used up a lot of goodwill.”
No, this had nothing to do with Pelosi’s comments, instead, this was a matter of idealogues on the right standing firm on the “principles” that got us into this mess in the first place. Bob Herbert in today’s New York Times is correct in labeling knuckleheads such as Darrell Issa (R. CA) as “Mad Men.”
“With the fate of the Bush administration’s desperate $700 billion bailout of the financial industry hanging in the balance, Representative Darrell Issa, a Republican from California, stuck to his political playbook like a man covered in Krazy Glue. He pronounced himself “resolute” in his opposition to the bailout because to be otherwise would amount to a betrayal of party principles.
To deviate from those principles, in Mr. Issa’s view, would be like placing “a coffin on top of Ronald Reagan’s coffin.”
We are witnessing the death throes of the Bush Administration… will the financial system bite the dust along with W.?